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Persistent Dynamic Payment Service

  • US 20070192245A1
  • Filed: 04/22/2007
  • Published: 08/16/2007
  • Est. Priority Date: 07/11/2001
  • Status: Abandoned Application
First Claim
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1. In a method of making a payment from a payer to a merchant in an online transaction over a first network, the transaction involving an online purchase and being of the type where the payment involves the beneficiary accepting a proposed payment in the form of an account number having a standard syntax, followed by the merchant requesting an authorization for the proposed payment from a financial institution, the improvement comprising the following acts performed by a trusted third party service:

  • a) associating an identifier assigned to the payer with at least one valid account number and other information pertaining to the payer in a database accessible to the trusted third party service;

    b) allowing the payer to initiate a persistent channel over the first network with the trusted third party service prior to completing the online purchase;

    c) receiving a request from a Payment Processor for approval of the proposed payment pertaining to the account number, whereby the account number was submitted as the proposed payment in the online transaction, and wherein the account number is in the standard syntax and comprises routing information associated with the Payment Processor;

    d) verifying the proposed payment by verifying that the persistent channel is available, and optionally contacting the payer over the persistent channel for additional verification, if additional verification is required by predetermined;

    e) processing the request by identifying the at least one valid account number; and

    f) transmitting an instruction to the Payment Processor wherein the content of said instruction depends on whether the transaction is verified or denied, and if the transaction is verified, the instruction comprises a valid account number associated with said identifier.

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